Home / Business / Finance Tools: Save | Print | E-mail | Most Read | Comment
ICBC gets approval for Sydney branch
Adjust font size:

Industrial & Commercial Bank of China (ICBC), the country's largest bank, said on Tuesday it had won approval from Australian financial regulators to establish a branch in Sydney.

The new branch is part of a broad international expansion by ICBC, which has said it wants its overseas business eventually to account for 10 percent of total revenues, compared with 3 to 4 percent at present.

Earlier this month, ICBC said it had won approval from the United Arab Emirates to set up a subsidiary in Dubai, and it received permission in February for a Qatar branch. It also plans a branch in Moscow.

(China Daily via Agencies May 27, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
Most Viewed >>
- Domestic airlines lift int'l flights fuel surcharges
- China wants Japan to set up clean tech forum
- Industry shakeup creates three telecom giants
- Coal supply gets boost
- Banks ordered to write off bad loans
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?